Can a car with a base price of $215,000 ー just about the same price of the average home in the U.S. ー be considered a "starter sedan"? If it's a Bentley, maybe.
The British luxury automaker, a subsidiary of Volkswagen, is celebrating its 100th year with an update to its Flying Spur model, which recently debuted among the world's rich and famous in Monte Carlo. Back in the U.S., Bentley Motors CEO Christophe Georges is thinking about the future of the iconic motor company.
Georges told Cheddar that going electric is "essential" to the company's future. As part of the anniversary celebrations, Bentley is showing off a new prototype for its first all-electric sedan, dubbed the EXP 100. Georges said the first fully electric Bentley will be in showrooms by 2025, with plug-in hybrid models arriving in 2023. That's a pivot, of sort, from Bentley, which has been slow to adopt electrification given its high-end customer base that demands performance and is not so concerned with the cost of gas.
As a British company, thought, there is a more pressing issue at hand for Georges: Brexit. He said Bentley, like other UK-based firms, has worked diligently to prepare for all scenarios, including "the worst possible case, which would be a no-deal Brexit." Bentley has built a new warehouse that Georges said will help it maintain its supply chain even in the event of a "crash out," which seems less likely now that a tentative deal has been reached.
Georges also said that the trade war between the U.S. and China has not impacted Bentley's operations, and indeed the company's growth in China has been "substantial," with 1 in 5 luxury cars on Chinese roads now carrying the iconic Bentley hood emblem, he said.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply. Third-quarter earnings fell to $1.4 billion, from $2.2 billion a year earlier. Excluding charges, per share profit of 50 cents came in below analysts' estimate. Tesla shares fell 3.5% in after-hours trading. Musk said the company's robotaxi service, which is available in Austin, Texas, and San Francisco, will roll out to as many as 10 other metro areas by the end of the year.
